The cross is trading higher ahead of the U.S Q2 GDP which set to release in the U.S session.
Since the hourly (H4) studies, RSI and oscillator stabilized at an oversold levels rebound is expected ahead to the upper end descending trendline. Today’s trading range likely to remain between 111.60-110.50. A well above 111.60 only east downward pressure. In this case we could see 112.00-112.20, flip side below 50MA should retrace further to 110.00-109.90.
A daily close above 112.20 it should add one more leg to 114.80 its 161.8fe (104.60-111.40-113.17).
Since the hourly (H4) studies, RSI and oscillator stabilized at an oversold levels rebound is expected ahead to the upper end descending trendline. Today’s trading range likely to remain between 111.60-110.50. A well above 111.60 only east downward pressure. In this case we could see 112.00-112.20, flip side below 50MA should retrace further to 110.00-109.90.
A daily close above 112.20 it should add one more leg to 114.80 its 161.8fe (104.60-111.40-113.17).